At the risk of sounding overly optimistic or a wild-eyed cheerleader...I think it is worth noting the terminology used by Doug Belanger in his October 10th press release. Even though the deadline for legal response from Minamb had run out...nowhere did he say that they were going to sue the Mutha-"F"-ers...even though the expiration of said deadline was a material event. Crystallex seems to be taking the same "diplomatic" approach. This leads a naive person like myself to the conclusion that progress is being made behind the scenes and we are indeed very close (i.e management doesn't want to "queer" the deal by running the legal aspect up the flagpole for all of us to salute). I still think Hugo Chavez is a pig.
Doug Belanger, President, stated, “The sale of this equipment reduces our near-term financial burden, but still allows us to initiate the Brisas Project to the extent the current delays related to Brisas are resolved. We are continuing our support of various social, cultural, health and environmental programs in the immediate and surrounding areas near Brisas, further demonstrating our commitment to the Brisas Project. At the request of MinAmb and MIBAM, we have prepared a number of proposals over the past months to assist in responding to the Government’s concerns related to mining in the Imataca Forest Reserve and the K-88 area. We continue to believe that the Brisas Project could be an active participant in facilitating the ultimate resolution to the issues identified by MinAmb and MIBAM. Subsequent to the completion of this transaction the Company will hold cash and investments of approximately $120 million or over $2 per outstanding share.”